000			01518 a2200229 4500
005			20180116101936.0
008			180116b xxu||||| |||| 00| 0 eng d
020			_a9783319601489
040			_cIIT Kanpur
041			_aeng
082			_a330.1 _bB634m
100			_aBohm, Volker
245			_aMacroeconomic theory _cVolker Bohm
260			_bSpringer _c2017 _aSwitzerland
300			_axvii, 423p
440			_aSpringer texts in business and economics
520			_aThis textbook offers a unique approach to macroeconomic theory built on microeconomic foundations of monetary macroeconomics within a unified framework of an intertemporal general equilibrium model extended to a sequential and dynamic analysis. It investigates the implications of expectations and of stationary fiscal policies on allocations, on the quantity of money, and on the dynamic evolution of the economy with and without noise. The text contrasts and compares the two main competing approaches in macroeconomics within the same intertemporal model of a closed monetary economy: the one postulating full price flexibility to guarantee equilibrium in all markets at all times under perfect foresight or rational expectations, versus the so called disequilibrium approach where trading occurs at non- market-clearing prices and wages when these adjust sluggishly from period to period in response to market disequilibrium signals.
650			_aMacroeconomics
650			_aEconomics
650			_aKeynesian economics
942			_cBK
999			_c558412 _d558412